_Schneebley t1_j0ra4vl wrote on December 18, 2022 at 8:43 PM

So it seems, without the full language of this, that they did away with the STEM/Non-STEM separation for nonrefundable and refundable credits, and are just doing straight refundable credits for all degrees post 2007, up to $2,500 year and $25,000 lifetime. So basically 10 years of $2,500k tax credit, which you can be refunded on beyond what you owe for taxes for the year.

Bunt_Casket t1_j1k876f wrote on December 25, 2022 at 12:57 AM

I just checked the statute (http://www.mainelegislature.org/legis/statutes/36/title36sec5217-E.html), it looks like the yearly refund max is $3,500 for people who had previously received a credit from the EOTC with a STEM degree. Anything in addition to the $2,500 yearly SLRTC cap does NOT count against the $25,000 total SLRTC cap.

Good news, kinda?

Disclaimer: I am not a lawyer or smart